10/28/19 was down -0.11 to 63.45. The ZZZs are trading premium to the component by +0.39.

The six-day moving average carcass weight eased to 213.61#. That is 2.03# yr/yr. Index hogs were a bit heavier at 214.05#. Packer hogs are lighter than the non-packer hogs by -0.30.

The dip the ZZZs made nearly closed the "Gap". The high kill of the past several weeks may be pulled a few hogs forward. If that is the case, the CME Lean Hog Index could bounce a little before the ZZZs go to cash settlement. That will especially be the case if the export market opens up a little.

Best wishes,

Doc